Centene Corp. and Ascension Health have signed a letter of intent to form a joint venture to operate a Medicare Advantage plan in select markets in 2020, the companies said Monday.
The plan would offer coverage to low-income seniors, according to a statement released Monday.
“Working with Centene to create a new Medicare Advantage plan aligns with our mission of serving those who are vulnerable and struggling the most, which all too often includes our seniors,” Tony Tersigni, president and CEO of Ascension, said in a statement.
Centene’s core business is contracting with states to provide health insurance to low-income individuals through Medicaid. The Clayton-based company does operate some Medicare Advantage plans throughout the country.
Ascension, which is based in Edmundson in St. Louis County, is the nation’s largest nonprofit health system and already operates other Medicare Advantage plans through joint ventures, a spokesman told the Post-Dispatch.
Seniors have the option to get health coverage through traditional Medicare or through Medicare Advantage plans, which are operated by private companies.
Terms of the deal were not disclosed. The joint venture would have to be approved by the boards of each organization.
This will be the first collaboration for the two St. Louis area companies.
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